Why ServiceNow Stock Gained 9.9%on Friday

ServiceNow (NYSE: NOW) gained 9.9% on Friday despite both the S&P 500 and the Nasdaq Composite finishing in the red.

Shares of the AI software-as-a-service (SaaS) operator got a lift from the announcement of an expanded partnership with HCLTech and Alphabet's Google, as well as a broader bounce in software stocks.

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On June 25, HCLTech -- the Indian IT giant -- announced an expanded partnership with Alphabet's Google Cloud and ServiceNow to put AI "agents" -- software that carries out tasks on its own -- into service.

High-priced software stocks have been hammered over the past year after investors jumped ship, believing general-use AI models like ChatGPT or Claude could soon replace the need for specific software from companies like ServiceNow.

Those fears have largely subsided, and after a massive run in AI infrastructure stocks, investors have been rotating back into software.

ServiceNow has announced a str

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/why-servicenow-stock-gained-9-220118415.html)